Japan TOPIX down 5 pc, Nikkei extends falls

Japan's broad TOPIX index fell more than 5 per cent as Asian markets extended falls and investor dumping of shares picked up pace.

Japan's broad TOPIX index fell more than 5 per cent on Tuesday as Asian markets extended falls and investor dumping of shares picked up pace, with banking giant Mizuho Financial Group down more than 6 per cent.

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As of 0506 GMT the TOPIX was down 5.2 per cent at 1,226.83, a loss of 66.91 points.

The benchmark Nikkei was down 5.6 per cent at 12,583.87, a new 28-month low and a loss of more than 700 points.